Regular olive oil is great for cooking because of its relatively high smoke point and mild flavor. You don't need to buy it, though, to get that great combination. America's Test Kitchen demonstrates how to make your own version with oils you probably already have.

By combining one part extra virgin olive oil with three parts canola oil, you'll get an oil with virtually the same taste as regular olive oil and the high resistance to burning.

This means you can save space in your pantry, and you might also save a little money. Quickly looking up prices online, I found regular olive oil to be around $0.25 per ounce, canola oil at $0.09 per ounce, and extra virgin olive oil averaging about $0.52 per ounce. Four ounces of the regular olive oil would then be $1 versus the $0.79 for the DIY mixed oil.

Your mileage might vary, depending on prices near you and how much you pay for the extra virgin olive oil— prices range from $0.27 per ounce for the really cheap stuff to $0.62 per ounce on Peapod for my area.